IT executives continue to face challenges when it comes to project management. There being so many schemes that have been implemented, the earned value scheme continues to gain more popularity. This is due to the benefits the scheme gives to organizations compared to other software. The scheme has been in use for the last 30 years where its popularity continues to grow as the best flexible model that covers all the stages of a projects life-cycle. And here are the top secrets that organizations need to know about Earned Value Management system.
In any project the quality of work is a very important key. When using the earned value administration system the model does not take in to consideration the quality of work but rather concentrates on the success of the project.
For the methodology to successfully work for organizations, they should ensure that there is team work and good communication within the organization. Failure to have these requirements, the system will not work perfectly well. This is because the program involves gathering, processing and information dissemination of the project from the juniors to the stakeholders.
Organizations which use these systems help them reduce the work load since they assist them to handle only the critical issues. This ensures that the management only tackles the most crucial matters thus giving them time to focus on other activities.
As much as the model is recommended as one of the best tool in project management tool this does not mean that other tools should be isolated. When using the EVMS, practitioners recommend the use of the critical path. This is to allow one draw the project network and determine the critical path of the project. However other methods which can work hand in hand with this system is the quality control techniques, the Gantt charts, standard delay impact techniques, milestone charts, line of balance and any other methods of determining the amount of management reserve.
The scheme does not track the progress but rather shows the percentage of completed job. This becomes very difficult for project managers to determine who is not performing their work as per their schedule. Also the scheme used by the organization may make implementation of the system very difficult.
As much as the use of the EVMS is highly recommended and help organization to predict the success of their projects, applying the system on a project that is in progress can have detrimental effects to the whole project. This can affect the organization, schedule, budget and the performance of the whole project.
The model takes earned value as the base line when predicting the values. However, the predictions may not be accurate at times. This is due to some of the foreseen risks which may cause some delays. Basing the assumption on the planned figures can land organizations in to troubles. On the other hand, the idea requires software to be used for it to accomplish its goals. The cost of purchasing this software is high and that is why most managers do not prefer using the system since they are not able to know exactly whether the project is in good shape or not thus limiting its use.
In any project the quality of work is a very important key. When using the earned value administration system the model does not take in to consideration the quality of work but rather concentrates on the success of the project.
For the methodology to successfully work for organizations, they should ensure that there is team work and good communication within the organization. Failure to have these requirements, the system will not work perfectly well. This is because the program involves gathering, processing and information dissemination of the project from the juniors to the stakeholders.
Organizations which use these systems help them reduce the work load since they assist them to handle only the critical issues. This ensures that the management only tackles the most crucial matters thus giving them time to focus on other activities.
As much as the model is recommended as one of the best tool in project management tool this does not mean that other tools should be isolated. When using the EVMS, practitioners recommend the use of the critical path. This is to allow one draw the project network and determine the critical path of the project. However other methods which can work hand in hand with this system is the quality control techniques, the Gantt charts, standard delay impact techniques, milestone charts, line of balance and any other methods of determining the amount of management reserve.
The scheme does not track the progress but rather shows the percentage of completed job. This becomes very difficult for project managers to determine who is not performing their work as per their schedule. Also the scheme used by the organization may make implementation of the system very difficult.
As much as the use of the EVMS is highly recommended and help organization to predict the success of their projects, applying the system on a project that is in progress can have detrimental effects to the whole project. This can affect the organization, schedule, budget and the performance of the whole project.
The model takes earned value as the base line when predicting the values. However, the predictions may not be accurate at times. This is due to some of the foreseen risks which may cause some delays. Basing the assumption on the planned figures can land organizations in to troubles. On the other hand, the idea requires software to be used for it to accomplish its goals. The cost of purchasing this software is high and that is why most managers do not prefer using the system since they are not able to know exactly whether the project is in good shape or not thus limiting its use.
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